QANTAS being taken over by Macquarie Bank..

[serfty]

... So many simply held on to their shares or bought up as many as they could hoping to either participate in the APA profiterring from the takeover; either by a higher buy-out offer or simply a fat dividend.

Bottom line, $5.60 was simply not enough.

of course $5.60 was enough ... Qantas is in a segment of the market that does not move very much regardless of what occurs in the wider market. shares fell 19% following the bid falling through ... that tells you that the offer was right. people/hedge funds mainly were greedy and too smart for their own good here. Qantas ain't that good a stock.

I beg to differ, but we can all have our own opinions.

APA were going to make a lot of money and some decided they wanted to share in that. $5.60 was not enough to convince them to sell their shares to APA; they were prepared to wait for the booty to be carved up.

Check the last para here: In the fiasco stakes, what matters is where the money went - Business - Business

The airline is unchanged and its shares are significantly higher than they were before the offer, partly because the bid highlighted value that was not being recognised.

 

[bigjobs]

I beg to differ, but we can all have our own opinions.

APA were going to make a lot of money and some decided they wanted to share in that. $5.60 was not enough to convince them to sell their shares to APA; they were prepared to wait for the booty to be carved up.

Check the last para here: In the fiasco stakes, what matters is where the money went - Business - Business

watch the share price go back down to 3-4 bucks over the next little while.

 

[oz_mark]

APA have given up

Qantas shares fall after APA drops bid - Business - Business - smh.com.au

Staff reporters
May 17, 2007 - 12:15PM

The Airline Partners Australia (APA) consortium has dumped plans to make a fresh bid for Qantas, after its earlier $11.1 billion offer failed.

"APA has concluded that in the current environment and circumstances, a renewed offer on terms acceptable to APA would not be likely to succeed," it said.

"On that basis APA has decided not to proceed with a renewed offer for Qantas at this time."

.......

 

[JohnK]

APA have given up

Fantastic. They have finally found the exit....

 

[Kiwi Flyer]

Fantastic. They have finally found the exit....

Ah but there could well be a new consortium. I wouldn't be at all surprised if Macquarie (for instance) have been beavering away lining up some new bidders.

 

[JohnK]

One storm at a time!

It is a realistic possibility that a new consortium will come up with a new offer and possibly succeed. Such is life....

 

[Kiwi Flyer]

One storm at a time!

A bit melodramatic, no?

 

[oz_mark]

I don't think APA could realsitically have come back with a bid, given how unpopular they managed to make themselves with this one. Quite a surprise, but showseven when you have the A-Team on the case,things can stillgobadly wrong.

 

[JohnK]

A bit melodramatic, no?

I don't think so. That is how I express my opinion when I passionately believe in something.

For starters I have no respect or time for private equity. As far as I am concerned there is nothing for society to gain from their continued presence. They are a bunch of lowlifes, bottom feeders. I think you get the drift.

And secondly I have a small interest in QF through my loyalty, status and continued desire to use their services as much as possible. Selfish? Possibly....

 

[Kiwi Flyer]

Which raises the question. What is better? QF spends several years fighting off suitors, causing major distraction and thus opportunity costs (as well as direct costs). OR A quick buyer, possibly not the most perfect, which allows a shorter period of change and infighting with the result QF is a better company.

 

[codash1099]

Ah but there could well be a new consortium. I wouldn't be at all surprised if Macquarie (for instance) have been beavering away lining up some new bidders.

I somehow think that discretion will be the better part of valour and any aspirants will keep their heads down until after the election. They would'nt want a government seeking popular approval and ban the takeover in an effort to score votes.

(Thinks: they don't do that sort of thing, do they??):shock:

 

[Kiwi Flyer]

I somehow think that discretion will be the better part of valour and any aspirants will keep their heads down until after the election. They would'nt want a government seeking popular approval and ban the takeover in an effort to score votes.

(Thinks: they don't do that sort of thing, do they??):shock:

Or it could be sneaky way to depress the price & expectations further

 

[Altair]

I somehow think that discretion will be the better part of valour and any aspirants will keep their heads down until after the election. They would'nt want a government seeking popular approval and ban the takeover in an effort to score votes.

(Thinks: they don't do that sort of thing, do they??):shock:

No not until the next election is over.
What will happen if Labor gets in and it goes before the Treasurer who is Labor and wants to protect union jobs from potentially being offshored?
No, plans will be put into place, certain funds with shares will be contacted about either taking part in the consortium or what price level they would sell out for.
MBL will keep looking for more targets and their share price will continue to climb as well as employee salaries.

 

[NM]

And note that the QAN share price has not plummeted as predicted by some. Still at $5.24 at this point in time.

 

[Myrna]

And note that the QAN share price has not plummeted as predicted by some. Still at $5.24 at this point in time.

The share market has been very strong and helped to support the prices. Some people figured it that if they sold Qantas shares then they would have to invest the money in something else and in this market that would be hard. Qantas has always paid very good dividend. This was one of the reasons why some people thought the price offered by APA was low.

 

[Kiwi Flyer]

Or another offer is expected by the market.

 

[oz_mark]

Or another offer is expected by the market.

I'd say this is close to the truth.

 

[oz_mark]

Have Qantas figured out how foreign owned they are? There were questions raised about this, but nothing seems to have come out about the answer.

 

[Kiwi Flyer]

I'd guess they are waiting for the dust to settle and positions to unwind.

 

[oz_mark]

Spooky. ask a question one day and the answers in the paper the next. The report basically says they don't know.

Qantas still navigating its foreign ownership - Business - Business

QANTAS chairman Margaret Jackson has admitted she does not know if majority ownership of the airline has fallen into foreign hands.

Ms Jackson, speaking at the launch of the Qantas First Lounge at Melbourne Airport last night, said she was surprised by the resilience of the airline's share price since the $11.1 billion takeover attempt by Airline Partners Australia failed a fortnight ago. She said many of the larger hedge funds, some of which are based offshore, were still on Qantas' share register, and the stock price could take a dive as they sold their stakes.

Qantas is at present reconciling its share register to determine whether the airline has exceeded the 49 per cent maximum foreign ownership provision outlined in the Qantas Sales Act.